Here is What Hedge Funds Think About NTELOS Holdings Corp. (NTLS)

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Seeing as NTELOS Holdings Corp. (NASDAQ:NTLS) has experienced bearish sentiment from the entirety of the hedge funds we track, it’s safe to say that there lies a certain “tier” of fund managers who sold off their entire stakes last quarter. Interestingly, Bart Baum’s Ionic Capital Management dropped the biggest investment of the “upper crust” of funds followed by Insider Monkey, valued at about $4.8 million in stock. Mike Vranos’s fund, Ellington, also dumped its stake, about $0.5 million worth. These moves are interesting, as aggregate hedge fund interest dropped by 3 funds last quarter.

Let’s also examine hedge fund activity in other stocks similar to NTELOS Holdings Corp. (NASDAQ:NTLS). We will take a look at Nivalis Therapeutics Inc (NASDAQ:NVLS), Preformed Line Products Company (NASDAQ:PLPC), Zagg Inc (NASDAQ:ZAGG), and Regional Management Corp (NYSE:RM). All of these stocks’ market caps are similar to NTLS’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
NVLS 19 100720 4
PLPC 4 26326 1
ZAGG 14 20725 0
RM 18 70063 1

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $54 million. That figure was $30 million in NTLS’s case. Nivalis Therapeutics Inc (NASDAQ:NVLS) is the most popular stock in this table, while Preformed Line Products Company (NASDAQ:PLPC) is the least popular one with only 4 bullish hedge fund positions. NTELOS Holdings Corp. (NASDAQ:NTLS) is not the least popular stock in this group, but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard NVLS might be a better candidate to consider a long position.

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